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Elastic goods usually have many substitutes, so changes in price will decrease demand. Inelastic goods, on the other hand, have very few substitutes, so demand isn't generally affected by price change.

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Tyree Cassin

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2y ago
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AnswerBot

6mo ago

Elastic refers to a situation where the quantity demanded or supplied changes significantly in response to a change in price. Inelastic refers to a situation where the quantity demanded or supplied changes minimally in response to a change in price. A good with elastic demand or supply is more responsive to price changes compared to a good with inelastic demand or supply.

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Q: What is the difference between elastic and inelastic?
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What is elastic and inelastic collisions in terms of momentum?

In elastic collisions, both momentum and kinetic energy are conserved. This means that momentum before and after the collision is the same, and the objects bounce off each other without any loss of kinetic energy. In inelastic collisions, momentum is conserved but kinetic energy is not. Some kinetic energy is converted into other forms of energy, such as heat or sound, during the collision.


What is the difference between elastic and inelastic collisions?

Elastic Collision is the collision in which colliding objects rebound without lasting deformation or heat generation.Inelastic collision is a collision in which the colliding objects become distorted and generate heat during collision and possibly stick together.


What is elastic and inelastic collision?

In an elastic collision, both kinetic energy and momentum are conserved. This means that there is no net loss of energy during the collision. In an inelastic collision, kinetic energy is not conserved, and some of the energy is transformed into other forms such as heat or sound.


Can momentum be preserved in elastic and inelastic collision?

Momentum is always conserved in both elastic and inelastic collisions. In elastic collisions, kinetic energy is also conserved, whereas in inelastic collisions, some kinetic energy is converted into other forms such as thermal energy or sound.


What happens to the vehicles in a collision and the principles of elastic and inelastic collisions?

In a collision, vehicles experience a transfer of momentum and kinetic energy. In an elastic collision, kinetic energy is conserved, and the vehicles rebound off each other. In an inelastic collision, kinetic energy is not conserved, and the vehicles remain stuck together after the impact.

Related questions

Difference between elastic and inelastic demand?

difference between elastic and inelastic demand


What will be the total higher quantity do in the elastic inelastic and unit-elastic?

The midpoint between elastic and inelastic is unit elastic


What are the differences between an elastic and inelastic item?

An elastic item benefits from price decreases whereas an inelastic item does not.


What is the difference between elastic and in elastic collisions?

Elastic collision transfers more energy into motion while inelastic transfers energy into deformation of the objects. Elastic could be called more efficient transfer.


What is the difference in elastic collision and inelastic collision?

Elastic collision transfers more energy into motion while inelastic transfers energy into deformation of the objects. Elastic could be called more efficient transfer.


Is the price and demand for junk food elastic or inelastic?

elastic


Is supply for bar soap inelastic or elastic?

is soap elastic or inelastic supply


What is the difference between inelastic and elastic goods?

Elastic goods usually have many substitutes, so changes in price will decrease demand. Inelastic goods, on the other hand, have very few substitutes, so demand isn't generally affected by price change.


Is a BMW an elastic or inelastic?

elastic


Is salt an elastic or inelastic product?

Inelastic


How do you determine if a collision was elastic inelastic or perfectly inelastic?

just check momentum before and after and if they're the same then elastic if not then inelastic.


Is fruit elastic or inelastic demand?

elastic